Hello Kansas Wheat.
This map defines the phrase “locally heavier amounts” …The NW corner of Kansas, NE Colorado and much of Nebraska caught at least a half-inch of moisture, but everyone else missed it.
Current forecasts aren’t promising more this week.
This storm isn’t a market mover, but the dry weather isn’t really a market mover either.
In fact, market moving news is scarce. The Funds are short grains, maybe even “record short” in corn. Some short-covering is coming. South American weather is too dry, but that could change quickly. The non-stop anti-free trade rhetoric from The White House probably does mean something in the long run, but the timing and defining the expected market impact is difficult at best.
Possibly the “government shutdown” …nah, we’ve seen it many times. Nothing.
Looks like a quiet week to me. Might as well watch the dormant wheat hibernate.
Source: Kansas Wheat